ETXCapital – reviews and overview CFD forex trading platform

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Contents

ETX Capital Review

Despite a long-tenured history in the forex markets and outstanding customer service, ETX Capital struggles to keep up with industry leaders when it comes to trading platforms, tools, and research.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on ETX Capital:

  • Founded in 1965, ETX Capital is regulated in one tier-1 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  • ETX Capital offers outstanding customer service. In 2020, the broker finished 2nd (out of 22) in our national testing from locations across the United Kingdom.
  • To access the tightest spreads and largest range of tradeable symbols (over 6000), traders should use ETX Capital’s Trader Pro platform (don’t bother with MT4). Unfortunately, Trader Pro lacks depth in both trading tools and market research when compared to industry leaders such as IG and CMC Markets.

Overall Summary

Feature ETX Capital
Overall 4 Stars
Trust Score 82
Offering of Investments 4 Stars
Commissions & Fees 4 Stars
Platform & Tools 3.5 Stars
Research 3 Stars
Mobile Trading 3.5 Stars
Customer Service 4.5 Stars
Education 3.5 Stars

Is ETX Capital Safe?

ETX Capital is considered average-risk, with an overall Trust Score of 82 out of 99. ETX Capital is not publicly traded and does not operate a bank. ETX Capital is authorised by one tier-1 regulator (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). ETX Capital is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA). Learn more about Trust Score.

Feature ETX Capital
Year Founded 1965
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 1
Tier-2 Licenses 0
Tier-3 Licenses 0
Trust Score 82

Offering of Investments

It is worth noting that there are nearly 6000 markets to trade Trader Pro – including single stock CFDs, compared to ETX Capital’s MT4 offering, which offers less than 200.

While traders may encounter limits on the maximum trade size per order in MT4, ETX Capital’s trade desk can execute larger orders on the phone at no added cost, and the max permissible order size is shown for each instrument within the platform.

Offering Comparison

Feature ETX Capital
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 60
CFDs – Total Offered 6000
Social Trading / Copy-Trading No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

ETX capital offers commission-free pricing on all platforms when it comes to its forex pairs. Therefore, the bid/ask spread represents the cost of trading, and will vary depending on the trading platform used. Comparing spreads on the Trader Pro platform versus MetaTrader, pricing is better on Trader Pro.

Spreads comparisons: On the MT4 platform, spreads averaged 1.01 pips on the EUR/USD currency pair using May 2020 data published by ETX Capital. Meanwhile, during the same period, average spreads on the Trader Pro platform were tighter at 0.81 pips for the same pair.

Included exchange data: When trading single-stock CFDs across global exchanges, many multi-asset brokers pass along exchange data costs by charging traders a nominal amount per month (depending on the venue). While data fee charges are sometimes rebated back to traders if minimum trading volumes are met, ETX Capital offers this data for free. The data encompasses over 20 exchanges, leaving just the commission per trade and any applicable spread when it comes to trading CFDs.

Fees Comparison

Feature ETX Capital
Minimum Initial Deposit $£100
Average Spread EUR/USD – Standard 0.81 (as of May 18)
All-in Cost EUR/USD – Active 0.81 (as of May 18)
Active Trader or VIP Discounts No

Platforms & Tools

ETX Capital offers its own proprietary Trader Pro platform as well as MetaTrader 4 (MT4). Overall, ETX Capital’s MT4 offering doesn’t compete with the Best MetaTrader Brokers. Furthermore, while the Trader Pro platform has several highlights, our testing left us wanting more.

Trader Pro advanced orders: With Trader Pro, traders can add a trailing-stop, GTC orders, as well as attach stop and limit orders to an OCO order. For an extra premium, traders can also add a Guaranteed Stop-Loss Order (GSLO), which can be helpful in volatile markets.

Trader Pro charting: In the charting section, there are nearly 60 indicators and 14 drawing tools, alongside a good range of popular chart types and time frames. All in all, these features are on par with industry standards. Charting package highlights include seamless zooming, real-time visual profit-loss tracking for open positions, and the ability to save charts views with any drawn trend-lines.

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Phone orders only: Certain products on the platform show a phone icon and have the buy/sell button disabled. Unfortunately, these symbols can only be traded via phone using ETX Capital’s trading desk.

Research

When it comes to forex research, ETX Capital fails to deliver quality content in its platforms, and its overall range of research is below the industry standard. Traders seeking a research-rich trading experience should consider Saxo Bank or IG.

Mobile Trading

ETX Capital offers two mobile trading apps: Trader Pro and the default MetaTrader 4 (MT4) app. MT4 aside, the Trader Pro mobile app lacks research and news; otherwise, it offers a good foundation for trading.

Like the web-based version of Trader Pro, Trader Pro mobile offers advanced order types and the ability to save chart views (rare in the industry); watch lists also sync between the two platforms. Pros aside, like the web platform, a severe gap in forex news and research features is also present. Boosting research will go a long way toward improving an already impressive app.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: nd (22 brokers)

Final Thoughts

Traders choose ETX Capital for its reputation built up over 50 years through its FCA-regulated offering. One of ETX Capital’s unique value-propositions is its voice-broking execution, through which traders can execute orders with dealers over the phone at no extra cost. Also, the broker finished Best in Class in the Customer Service category in 2020.

ETX Capital’s proprietary trading platform offers a fluid HTML5 interface, which makes it easy for traders to trade across nearly 6,000 tradeable products. That said, a lack of research capabilities remains a significant drawback.

About ETX Capital

Founded in 1965, Monecor London Limited (ETX Capital) obtained authorization from the Financial Conduct Authority (FCA) in 1995 and has been operating in the United Kingdom (UK) for more than five decades. The broker is also a member (not an actual publicly-traded company) of the London Stock Exchange (LSE).

Today, ETX Capital offers forex and CFD traders access to global electronic and voice-traded markets, with nearly 6,000 CFDs on 23 global stock exchanges, 60 forex pairs, and seven cryptocurrency pairs. Read more on Wikipedia about ETX Capital.

ETX Capital Trading Features

Feature ETX Capital
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform No
Social Trading / Copy-Trading No
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

ETX Capital Research Features

Feature ETX Capital
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs No
Economic Calendar Yes

Mobile App Features

Feature ETX Capital
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave Yes
Forex Calendar No

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

ETX Capital Review 2020

Summary

Recommended for forex and CFD traders looking for great funding and withdrawal options and an easy-to-use platform

ETX Capital is a global CFD and FX broker. Its parent company, Monecor (London) Ltd was established in 1965 and is regulated by the Financial Conduct Authority (FCA) making it safe to invest your money with.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ETX Capital pros and cons

ETX Capital offers a lot of deposit and withdrawals options and they are free of charge. It has also a user-friendly and fast account opening. There are a lot of educational tools with great quality.

ETX Capital has high trading fees. The product portfolio is limited as it offers only CFDs, forex, and crypto. You can use only charting as a research tool. There are no trading ideas, fundamental data, or news either.

Pros Cons
• Free and multiple deposit and withdrawal options • High trading fees
• Easy and fast account opening • Only CFDs, forex, and crypto offered
• Great educational tools • Basic research tools
ETX Capital main features and highlights
��️ Country of regulation UK
�� Trading fees class Average
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 3
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

ETX Capital review
Fees

ETX Capital has high trading fees and financing rates. The non-trading fees are average. On the plus side, there are no withdrawal fees.

Pros Cons
• No withdrawal fee • High forex fees
• High financing rate
ETX Capital fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.5 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 2 is the average spread cost.
EURUSD High The fees at TraderPro account are built into spread, 0.7 pips is the average spread cost
Inactivity fee Low $25 per month after at least 6 months of inactivity

How we ranked fees

We ranked ETX Capital’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates, and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of ETX Capital for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared ETX Capital’s fees with those of two similar brokers we selected, XTB and XM. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of ETX Capital alternatives.

To have a clear overview of ETX Capital, let’s start with the trading fees.

ETX Capital trading fees

ETX Capital trading fees are average.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for ETX Capital fees.

CFD fees

ETX Capital has generally average to high CFD trading fees.

ETX Capital CFD fees for a $2,000 long position held for one week

ETX Capital XTB XM
S&P 500 CFD benchmark fee $2.2 $2.0 $2.4
Europe 50 CFD benchmark fee $2.1 $2.2 $2.4
Apple CFD benchmark fee $32.0 $17.9 $3.4
Vodafone CFD benchmark fee $25.9 $20.9 $5.6

As we can see above, index CFD’s are about average with their competition. When it comes to individual stock CFD’s though, we can see that they are quite a bit higher than the same competitors with XM being much cheaper.

Forex fees

ETX Capital forex fees are high.

ETX Capital forex benchmark fees of a $20,000 30:1 long position held for one week

ETX Capital XTB XM
EURUSD benchmark fee $19.5 $15.0 $17.1
GBPUSD benchmark fee $16.1 $11.1 $13.8
AUDUSD benchmark fee $16.6 $10.0 $13.9
EURCHF benchmark fee $9.4 $6.6 $9.1
EURGBP benchmark fee $14.2 $9.9 $12.2

In every benchmark measured, we found that ETX Capital’s forex fees were higher than XTB’s and XM’s. This is unfortunate because these three stock brokerages all have the same target market making ETX Capitals rates relatively unattractive to potential clients.

Non-trading fees

ETX Capital has average non-trading fees.

It does not charge an account fee or withdrawal fee up to 5 withdrawals per month. If you withdraw more than 5 times, you will be charged a $10 fee per additional transaction.

Unfortunately, they do charge an inactivity fee of $25 per month after at least 6 months of inactivity. It’s important to note that these types of charges are hard to find on their official website making their commission structure not completely transparent.

Beginner’s Guide to ETX Capital: Complete Review

ETX Capital is a well established and FCA regulated broker with over 50 years in business. The broker has a vast range of markets, industry-leading trading platform, and competitive spreads. They strive to deliver a versatile trading experience for clients and offers a range of educational resources.

ETX Capital provides its customers with access to highly competitive prices for over 6,000 different markets as well as support from its award-winning customer service teams. ETX Capital is based in London but has customer support in many countries.

Monecor (London) Limited is the company behind ETX Capital, which is a trading name of the former. Monecor (London) Limited has company number 00851820. The Financial Conduct Authority (FCA) authorizes and regulates it under the Financial Services Register number 124721. Monecor (London) Limited was established in 1965 and is also on the London Stock Exchange.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

ETX Capital at a Glance

Broker ETX Capital
Regulation FCA (United Kingdom)
Minium Initial Deposit
£100
Demo Account
Yes
Asset Coverage CFDs, ETFs, Forex, Cryptocurrency, Shares, Bonds Commodities, Indices
Leverage 30:1 Retail Clients 200:1 Professional Clients
Trading Platforms Proprietary Web, Windows Desktop, Mobile Apps, Meta Trader 4

ETX Capital Trading Instruments

When trading with ETX Capital, clients get access to thousands of markets which are tradeable. There is the choice of over 50 forex pairs in addition to Cryptocurrencies, commodities, equities, and financial indices. Commodities offered by ETX Capital include five metals, five energy, and nine soft commodities. In terms of equities, you can trade CFD stocks from the U.S., Australia, Singapore, South Africa, or 18 European countries.

Spreads & Leverage

ETX Capital prides itself on offering tight spreads with plenty of leverage. For forex, the spreads from ETX Capital start at just 0.6 pips for EUR/USD, a highly competitive rate. For equities, some stocks have indicative spreads of 0.08. Commodities have minimum spreads starting at 3 pips, and certain major indices have minimum spreads that start at 1 pip.

Many of the products from ETX Capital offer leverage rates of 100:1. Some of the MT4 products even offer leverage of up to 200:1 for professional clients and 30:1 for retail clients.

Accounts Types

Instead of offering separate types of accounts, ETX Capital offers two types of platforms to suit varying trading styles. These are its flagship ETX TraderPro and the ever-popular ETX MT4. Once you open your account with one of these platforms, it is still possible to trade on the other platform. To do so, just email the service desk. They will easily make trading on the other platform available to you since you have already gone through the security process during registration.

It is also possible to hold more than one account with ETX Capital, including one for each of the trading platforms. At any point, it is possible to hold five live accounts with ETX Capital. The broker can work with you if you need to hold more than five live accounts, but this requires a review by its compliance time. To create another account once you have already registered for one, just log into your account and go to the Profile section.

Demo Accounts

ETX Capital also offers demo accounts for each platform. To take advantage of this feature, go to the “Platforms” tab on the website. Then, choose the “Demo” option and follow the prompts. This will let you hone your skills and get used to the ETX Capital platforms without risking real money.

ETX Capital Deposits and Withdrawals

To add funds to your MetaTrader 4 account with ETX Capital, log in and click “Adds Funds.” This will take you through the process. To withdraw funds, log in, visit “Your Account” then click on “Withdraw Funds.” Fill in the required fields, which will include the amount. In some cases, you may need to give more documentation before withdrawals to prevent financial crime. It is also possible to transfer funds between your ETX Capital accounts. To do so, you will need to send an email to customer service that includes the account numbers for the transfer, the amount, your address, and your date of birth.

There is a minimum deposit of £100 or its equivalent in a different currency. You can make a deposit via a wire or bank transfer in GBP, USD, EUR, SGD, ZAR, SEK, RON, NOK, PLN, JPY, HRK, HKD, CZK, DKK, AUD, CAD, or CHF. This will take one working day for deposits and two to three for withdrawals. The same currencies and time periods apply to online bank transfers. You can also make a deposit with a major credit or debit card, other than AMEX. These have a general processing time of one working day and withdrawal arrival time of three to five working days. You can make the deposit with credit/debit cards in GBP, USD, EUR, CHF, CZK, DKK, ZAR, PLN, or NOK.

Those interested in e-wallets will find many options, as well, including China UnionPay, Skrill, Neteller, Sofort, and GiroPay. For each of these methods, there is a general processing time of one business day and a withdrawal arrival time of three to five business days. Sofort and GiroPay only allow deposits in EUR. Neteller and Skrill allow GBP, EUR, or USD. China UnionPay allows GBP, EUR, RMB, or USD.

For payment security, ETX Capital uses the 3-D Secure protocol, which is internationally accepted and adds a layer of security for debit and credit card transactions online. This is done by using XML messages that are sent over an SSL connection with the client authentication. This protocol is automatic, and you will notice that it typically requires you to add a code your bank provides via text or a password.

What Else Should You Know about Deposits and Withdrawals?

Keep in mind that you can only deposit funds into your ETX Capital account from a credit or debit card or bank account that is in your name; the broker does not allow for third-party funding. It is also worth noting that if you deposit funds into your ETX Capital account in a different currency, the broker will convert them using the spot rate from trading close on the previous day. This will increase the length of time it takes for the deposit to be credited.

Withdrawals always go back to the original source of the funds. If this is not possible, ETX Capital will need to first confirm that this is the case. From there, the Customer Service team will let you know the documents that you need to send. It is usually possible to withdraw back to a credit/debit card that has since expired, but if the issuer of your card refuses this payment, the above process will apply. If the funding bank account has been closed, or your credit/debit card was stolen, ETX Capital will need a letter from you detailing this as well as a bank statement for the preferred withdrawal method. You can cancel a withdrawal from your ETX Capital account via the specific withdrawal email address or by phone.

There are no withdrawal fees for the first five withdrawals each calendar month from ETX Capital, provided the withdrawals are at least $100. For withdrawals past this point, there is a fee of $10 per withdrawal. That same $10 fee applies to withdrawals below $100. The maximum withdrawal fee is $10, even if both conditions are met.

ETX Capital Fees

It should be noted that ETX Capital does charge an inactivity fee for accounts that are dormant. These are charged in per month and there are specific fees depending on the currency in question. You can view the fee for your account currency on the Payments page of the ETX Capital website. There are 31 different currencies, making it impractical to list them all. That the time of writing, some of the most common currencies with their inactivity fees include:

The broker also has overnight financing charges. For commodities, indices, and equities, the charge is (total position size x 3.5%)/365. In the case of a weekend roll, this charge only gets applied once although the underlying market spread is larger since you roll the position three days instead of one. For FX, the interest calculation depends on currencies in question. You can view full details of overnight funding and financing fees in the FAQ section of ETX Capital’s website.

ETX Capital Promotions

ETX Capital does offer promotions. These vary at any given moment, so the best way to discover the current promotions is to talk to your Account Relationship Manager. Promotions do expire, and you can check the expiration date of your promotion and how much of it you have earned so far by contacting customer support, either via email or phone.

ETX Capital Trading Platforms

To help clients trade on the go at their convenience, ETX Capital offers mobile trading platforms for Android and iOS devices in addition to the desktop platforms. Overall, there are two main platforms to choose from when trading with ETX Capital on a mobile device or desktop. Each of these is specialized and suits traders of a particular trading style.

ETX TraderPro has tight spreads and customizable trading charts. This makes it a great choice for accomplished traders who want to embrace risk to increase their chances of significant returns. This is the flagship platform from ETX Capital. It includes an assortment of charts and graphs, plus thousands of products to trade.

ETX TraderPro lets you choose from a range of charts and use various drawing tools to come to trading conclusions on your own, making it great for advanced traders. The platform is very direct, letting you open the chart for a product and trade on it right away to save time and reduce the risk of slippage. The platform includes a pip calculator tool and has drag-and-drop capabilities, so you can position trading deal tickets where you want. You can also create watch lists and view detailed information on any product via the platform.

Alternatively, clients of ETX Capital can trade on ETX MT4, the broker’s hosted MT4 platform. This platform makes it possible to bring a downloaded automated expert advisor. In addition, ETX MT4 lets you have multiple charts open at the same time, letting you access all the market info you need simultaneously. MT4 also supports micro lots and hedging. There is also the choice of using Virtual Private Server hosting on MT4, so you can ensure your copy signal providers and Expert Advisors work 24/7.

When you look at the trading boxes, you will notice rates displayed. These are quotes prices for assets. You should keep in mind that ETX Capital’s rates are not always the same as the exact market prices, with some variations of up to several pips. The rates listed, however, are those at which ETX Capital is willing to sell a given option for. On the trading platform, green shows a rise in price while red shows a fall in price for the rates.

How to Trade with ETX Capital

To begin placing a trade, you must log into your account. From there, the steps vary slightly depending on the platform you choose to use.

With ETX TraderPro, begin by choosing the product you want to trade then select “Trade” on the right. This will open a trading ticket that shows the current levels at which you can buy or sell. You can also set the quantity to trade. Adjust the amount then select “sell” in red or “buy” in blue.

With ETX Binary, click the product you wish to trade, which will automatically open the trading ticket. Your choices will depend on the Binary option’s nature. You may see buttons for “Call” and “Put” or options for “Up” and “Down,” along with numbers that change based on the current product price. There will also be a drop-down box that may offer expiration times for your trade. The form will ask you to input the amount you want to trade. As you update the information, the payout calculator will also update, letting you know your potential payout in the case of a successful trade. When you are happy with the form, select “Invest” and your trade will be placed.

With ETX MT4 begin by selecting “New Order” by the top trading bar. This will open a new window. There, click on the “Symbol” drop-down tab. There, you will select the product to trade. Then, enter the amount to trade and potential levels for a stop loss or take profit. From there, you can select the “Sell by Market” button in red or “Buy the Market” in blue.

To place an Order to Open, click on the “Order” tab, which will open a New Order window. Choose the level to buy or sell, adjust the other fields, and select “Place” to confirm the Order to Open. You can modify an Order to Open by opening your order book and clicking “Amend.” This will open a window called “Amend Order.” Make your changes and hit “Amend.” Keep in mind that slippage will sometimes occur, and it will not be possible for a limit or stop order to occur at the specific price you indicated. Stop Loss orders are not guaranteed unless this is agreed upon.

ETX Capital also makes it simple to find a minimum Stop Distance for your chosen market. Click on the market or find it via the search bar. Generate a new deal ticket by clicking “Trade.” Then, click “Advanced” and then “Stop.” Now, you can decrease the Stop level with the arrow keys. When you cannot decrease any more, this is the minimum Stop Distance.

On certain markets, ETX Capital also offers guaranteed stop losses. However, this will incur an added charge. That charge is displayed right on the deal ticket when you make your selection, so there are no hidden fees or surprises.

When Will ETX Capital Close Positions?

Sometimes, you may notice that a previously open position has been closed. This can happen due to a range of reasons, including that you had a Limit or Stop order set on the position, which was reached and executed. It is also possible that your position closed because of a margin call. Another possibility is that you traded on a futures contract that reached its expiration date. To avoid this problem, you can call ETX Capital before the contract expires to roll it over until the following expiration date.

If you notice the figure for your “Trade Funds Available” is negative, you can either close the current position or add funds to your account. If you do not act, the Risk Department may close or partially close your position.

How Do You Know Your Available Trading Funds?

You can determine your available trading funds by taking your liquidation value and subtracting the margin needed for open trades. When this figure is positive, it shows the quantity that you currently have available for trading. If it is negative, that is the amount you must deposit before having enough funds to trade again.

Can You Hedge with ETX Capital?

Sometimes, traders want to order two positions on the same market in opposite directions or hedge. This is allowed on the MT4 platform. On the ETX TraderPro platform, some instruments will offer this ability. If this is the case, you will notice the word “hedge” in brackets right next to the instrument’s name.

Minimum & Maximum Trade Sizes

The minimum deal size depends on the instrument. In most cases, you can trade from just 0.50 pips per point on a micro lot with CFDs or in the spread betting platform. The maximum deal size will also vary based on the platform that you choose to use. Typically, ETX Capital clients can place a deal of any size provided they have enough funds to cover the margin requirements for the trade. If you cannot enter a deal via the website and are unsure why, you can call ETX Capital. Keep in mind that the maximum deal size will sometimes change due to exceptional market conditions.

What Happens If You Do Not Trade in Your Account’s Base Currency?

ETX Capital converts your daily currency trades back into your chosen default currency automatically after midnight from Sunday to Thursday. If this automatic conversion does not occur, let ETX Capital know. In the future, you may need to let it know ahead of time whenever you want your balance converted.

Viewing Your Trade History and Open Trades

In MetaTrader 4, click on the tab for Account History within the Terminal Box. From there, you can right-click on “Account History” and choose the time period you want to view. If you cannot see the Terminal Box, you can open it by pressing CTRL+T.

You can view your overall loss or profit on a position with ease, as well. On ETX TraderPro, start by finding the “Open Positions” tab by the lower half of the screen. There, you should see the current positions, with each also featuring the time and date it was open. The information will also include the quantity sold or bought, the margin reserved, and the product price when opened plus the current price. Next to this information, there is a “P/L” column. Here, you will find the current profit or loss level. The figure is also color-coded, with the amount in white for profits and red for losses. To the right, you will spot buttons that let you view the product chart, engage in further trading on the product, close the trade, or create a new alert.

On ETX MT4, go to the terminal window on the MT4 platform to view open trades. It is typically by the bottom of the screen. If it is not visible, you can add it to your view by selecting the “View” menu by the top. Within the terminal window, select the “Trade” tab. This tab will display the open trades and current account balance. For each trade, you can view the relevant information, including time opened, size, type, symbol, and price. You can also select a particular trade, which will open a window that features options like the ability to close the trade.

ETX Capital Charts

ETX Capital does have several display styles that come with a range of various drawing tools to suit your needs. It is also possible to add various studies, then save your settings. Just click on the Chart icon on a given market. From there, you can select the Charts tab and click on Type to select the display style that you prefer.

Clients can also use the regular charts included. You will notice that ETX Capital keeps chart data for at least a day. The tick data for less than one-minute periods is stored for a day, and periods between one and five minutes are stored for two days. Periods between five and 30 minutes are stored for two weeks, and periods between one and four hours are stored for several months. The data for periods of one day and longer is stored forever. The daily candles on charges are automatically reset at midnight in the time zone of the local market. Daily price changes get applied at midnight in the London time zone. All prices get their basis from the official close of their underlying market.

You can change the style of a chart whenever you want. To do so, open the chart by clicking on the market or using the search bar. Then, select the Chart icon to open a new chart window. From there, you can click “Charts” and “Type” to adjust the style of the chart. It is also possible to open a chart in a new browser window. Just go to the top right corner of the chart window and click “Move to New Window,” which is an icon.

There are also numerous indicators available for ETX Capital charts. To add or remove the indicators, go to the “Studies” tab on your chart. Choose the indicator you want and adjust the settings. Then, click “copy” and close, and the indicator should appear on the chart.

You can customize charts with the tabs on the left and top of the window. If you want to save these customizations for the future, go to the “Settings” tab and select “Save Chart Settings.”

Other Trading Tools & Resources

ETX Capital has an entire section of its website dedicated to market analysis. There, you will find a range of articles focused on analyzing the market. You can browse the most recent ones or use the search function. There is also the ability to sort analysis by author or tags.

Educational Resources

ETX Capital covers a range of educational topics in its FAQ section. There, you will find such information as the purpose of limit orders and explanations of leverage. In addition to the information sprinkled throughout the FAQ section, ETX Capital also offers other education, via seminars, webinars, and an advanced education course. All of those resources are free for account holders. Although not always the case, many of the webinars are recorded, so you can view them on the education page later.

At the time of writing, there are 13 upcoming seminars and webinars listed on the education page of ETX Capital, all of which take place in the same month. That variety helps show that ETX Capital offers very frequent webinars. These are led by either an independent trader company or the expert in-house team from ETX Capital. All webinars indicate the subject, date and time, location (typically online), language (typically English), and whether there is still room available. You can click on a webinar to get even more information, including an in-depth summary of what will be covered. At the bottom of the page, you will find the form to register.

ETX Capital additionally offers a trader course that is run by an independent company and is comprehensive and geared toward clients. The program is completely free for ETX Capital clients, despite comparable programs typically costing well over $1,000. It includes an eight-hour program with monthly follow-ups for discussing trading strategies.

Competitors

ETX Capital is in competition with our similar brokers which have covered before, as follows:

ETX Capital Customer Support

The customer support from ETX Capital is multilingual, and the FAQ section on the company’s website is also available in more than 15 languages. Customer service is available in English, German, Spanish, Mandarin, Polish, and Czech. To contact customer support, visit the “Contact Us” section of the website. There, you will find contact information for both new and existing accounts. Existing accounts will see separate numbers for customer service and the trading desk. Those looking for a new account will find both a free phone number (within the UK) and an international number. This is also where you will find the physical address of ETX Capital and its fax number. The address is One Broadgate, EC2M 2QS, London.

ETX Capital also makes it a point to attend various trade shows worldwide. At these events, staff members will gladly meet clients, business introducers, and affiliates.

ETX Capital Awards

ETX Capital recently took part in the Online Personal Wealth awards 2020 and won “Best Trading Platform for Professionals” and “Best Trading Tools”.

Is ETX Capital Safe?

In addition to its regulation and authorization from the FCA, ETX Capital has many procedures in place to protect customer funds. There are daily security checks to confirm that the broker has sufficient regulatory capital constantly. Additionally, client funds are held separately from the company money, and this is done within investment-grade-rated UK banks.

Conclusion

ETX Capital is an international broker that offers clients access to trading CFDs for a range of assets. ETX Capital prides itself on delivering low spreads and excellent customer service to help the broker stand out from the competition.

ETX Capital’s web trading interface is excellent and very well designed, offering a range of tools and charts to help you make your trades. In addition to its own proprietary platform, this broker lets clients use a version of MetaTrader 4.

With ETX Capital’s long and distinguished history of over 50 years in business, plus the fact they are regulated by the FCA, you should feel absolutely confident choosing this broker.

Please Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

ETX Capital Review and Tutorial 2020

Go to the Brokers List for alternatives

ETX Capital Facts & Figures

ETX Capital are a London based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services to Pro clients. ETX are offering a FREE trading course to new clients, and free guaranteed stops on the TraderPro platform.

Trade 5 cryptocurrencies, and BTC against USD, GBP or EUR. Margin is tiered from 50%

Instruments CFD, Forex, Crypto, Stocks, Spreadbetting
Demo Account Yes
Min. Deposit £250
Min. Trade £1
Regulated By FCA
MT4 Integration Yes
Mobile Apps iOS and Android
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1 pt
GBPUSD Spread 0.9
Oil Spread 0.06 pips
Stocks Spread From 0.5%
Forex
GBPUSD Spread 0.9
EURUSD Spread 0.6
EURGBP Spread 0.9
Assets 65+
Cryptocurrency
Spread BTC Market Spread + 10, ETH Market spread + 8
Coins BCH, BTC, ETH, LTC, XRP

ETX Capital is a reputable online trading brokerage with head offices in London. With decades of experience and a choice of trading platforms, the broker offers trading in Forex, CFDs and Spread Betting. This review of ETX Capital will examine all aspects of their offering, including trading fees, demo accounts and mobile apps, before finishing with a final verdict.

ETX also now offer a full professional clients service which is making them the ‘go to’ broker for professional clients since the ESMA regulatory changes.

ETX Capital Trading Platforms

Customers can choose between three trading platforms:

ETX Trader Pro

As the name suggests, this platform is geared towards experienced traders, or ‘pro’ accounts. As a result, you get a range of advanced features and comprehensive access to the financial markets.

In particular, TraderPro reviews highlight the sophisticated charting tools. This allows you to choose and view numerous charts in different time frames simultaneously. This means you could view Ichimoku, Heikin-Ashi and line charts all at once.

On top of that, once you have your client login details, you get straightforward access to historical data, volume indicators, guaranteed stops and more. In addition, the platform comes with a news feed so you don’t have to turn to the likes of Bloomberg to stay in the know.

Overall, opinions of ETX Capital’s TraderPro platform are positive. In fact, many believe it is up there in the rankings with the likes of the MetaTrader 4 and 5 platforms.

The Pro platform includes the professional client service which had made ETX a popular choice among full time traders.

The TraderPro platform also delivers free guaranteed stop losses. This a real bonus for traders who like to use stops to manage risk. The guaranteed stop ensure your trades are closed if the asset hits that price, regardless of the amount of price volatility.

ETX MetaTrader 4

There is also a free MT4 download. This is ideal for traders who are already familiar with the system and would prefer not to change. This industry standard promises a range of features and superb security. It can be used for trading everything from Bitcoin and oil to the FTSE 100 and Swiss francs.

The MT4 free download will work for hedging, scalping techniques and plenty of other strategies. Users also have the added bonus that there is a wealth of educational resources available to help them get the most out of the platform.

Some superior rivals are out there though:

Others

ETX Capital recently withdrew their binary options offering in the face of the changes suggested by the European regulator – ESMA. These prohibited the supply of binary options to retail investors in Europe. As a responsible broker, ETX have removed the product to all traders.

Minimum Initial Deposit

The minimum initial deposit is £100. This is relatively low for the industry, making the brokerage attractive to beginners with limited initial capital.

Note it is because ETX Capital is a market maker that entry requirements and minimum bet sizes are lower than traditional ECN brokers.

ETX do motivate traders to make a larger initial deposit by offering a free trading course to traders who deposit $1000 (or equivalent).

Spreads & Commissions

ETX Capital spreads are competitive. Forex spreads start from just 0.6 pips for popular currency pairs, such as the EUR/USD. Spreads for CFDs start from 0.5 pips, while minimum equity spreads are 0.08%. For those wishing to trade in commodities, spreads start at just 0.025 points. Finally, for indices, you can find spreads of just 1 pip.

Leverage

Trading on leverage can be an effective way to capitalise on market opportunities. For FX trading, leverage extends to 1:30. For commodities, leverage is 1:10, while for equities and indices leverages span from 1:5 to 1:10.

It’s also worth highlighting that trading on margin does come with risks. If you’re not careful, a margin call could promptly require a payment in excess of your initial deposit.

Note margin requirements vary with fluctuations in exchange rates. Also, you may be able to change your personal leverage limits by contacting ETX Capital, or registering as a ‘professional’. Regulatory guidelines cap leverage, but only apply to retail investors, not professionals. Leverage for professional accounts can reach 1:300.

Other Trading Fees

There are certain fees to be aware of before you sign up for an account with ETX Capital. For example, there are overnight rollover fees and charges, which will depend on your position size and instrument. See the official website for a break down of rolling daily charges.

In addition, there is a monthly dormant account charge if you have not made any trades in over 365 days. But if you do decide to return to the platform, ETX Capital will refund you the last three months of inactivity fees.

Deals & Promotions

Recent regulatory changes have meant that ETX Capital have withdrawn many of their deposit bonus offers. Incentives now focus on ‘adding value’ for traders, so for example a deposit of any size will secure a free trading course and similar perks. This previously required a $1000 deposit, so is a useful offer to take advantage of. Visit the ETX Education pages to see the current list of free etx webinars.

Mobile Apps

An increasing number of individuals intraday trade directly from their mobile devices. So, is ETX Capital good in terms of mobile trading apps? Customer reviews would suggest yes. Mobile trading apps are available with all 3 trading platforms for iPhone, iPad and Android devices.

The app interface is sleek and straightforward to navigate. You get access to 5000 markets and you can enter and exit positions using price alerts, real-time charts, one-touch trading and a range of custom indicators.

In fact, results from user reviews point to the binary mobile app as among the best in the industry. For example, bringing up an energy stock quote and entering a position takes but a few seconds. Furthermore, mobile apps are kept secure with encryption and fast touch ID log-in. Finally, you can manage risk with trailing stop losses and limits.

Overall then, if you conduct research or trade from your mobile device, ETX Capital could certainly meet your mobile app needs.

ETX Methods of Payment

Deposits

Once you sign up for an account, you will need to add funds before you can start trading. Fortunately, there are a number of options for depositing and withdrawing funds, including:

  • Bank Wire Transfer
  • Credit & Debit Cards
  • China UnionPay
  • Giropay
  • Neteller
  • PayPal
  • Skrill
  • Sofort

Withdrawals

You can view your current account value from within your account area and then decide whether you want to withdraw some of your capital.

Reviews for withdrawing funds are positive for three reasons:

  1. You can use any of the same methods used for funding your account.
  2. There is no minimum withdrawal. Having said that, you will incur a fee if you withdraw less than £100 of your revenue.
  3. Withdrawal times are fast. The quickest method is wire transfer which takes between 2 to 3 business days. All alternative methods will take between 3 to 5 working days.

Contact customer support if you have any withdrawal problems.

ETX Capital Accounts

ETX Capital offer a couple of account types. The standard live trading account, offers traders of all experience levels the same levels of features and tools, as long as they can make the £100 initial minimum deposit. Clients signing up as ‘Pro’ clients will also enjoy the professional client service which offers larger leverage and access to investment types not available to retail traders.

To qualify as a professional trader, ETX require traders meet 2 of the following three criteria:

  1. Over €500k of liquid assets excluding your house of residence if you own it.
  2. Relevant experience in financial services.
  3. Traded at least 10 times in each of the last 4 quarters

There are also some perks for larger deposits, such as free trading courses and similar offers and deals.

Note ETX Capital does not offer a swap-free account for Islamic traders.

Demo Account

Although there is just a single live trading account, there is also a free demo account. You can get an MT4 demo account. Alternatively, you can opt for an ETX TraderPro account. Once you have your demo login details, you can then trade stocks on the Dax 30, for example, with virtual cash.

Practice accounts are a fantastic opportunity to build confidence and develop strategies. Then when you have gained experience, you can close your forex demo account from within your account area and upgrade to real-time trading.

A Brief History

Before taking a look at customer trading reviews, here is a brief overview of the company: ETX Capital is owned and managed by Monecor (London) Limited. In 2007, the group was acquired through a joint venture from the private equity investment firm JRG Group and the BXR Group.

But although the parent company’s history dates back to 1965, ETX Capital only came to life in 2002 and is relatively unknown. This is because the owner and board of directors previously focused their attention on institutional traders and high net worth individuals.

However, the partners and directors have seen considerable success since opening their doors to average traders. Firstly, they have become an FCA regulated FX broker. The broker went online in 2020 and hit the news with the acquisition of the Alpari network in 2020.

The ETX Capital Group were quick to facilitate a smooth transition for existing Alpari customers with a dedicated helpline and the installation of MetaTrader 4 (MT4) servers. As a result, user ratings went up along with share price and turnover.

Finally, for those observers wondering what the meaning behind the ETX acronym is:

  • Electronic Trading
  • Telephone Trading
  • Execution Services

Additional Features

Many reviews suggest the best part of the ETX Capital offering is the range of additional resources. These include:

  • Sentiment Mapper – Spread betting and FX clients can see how other ETX Capital traders have been trading. For example, you can see whether people are taking a bullish or bearish stance. Also, if you want to take a position on gold or oil, you could head over to an interactive chart and see which direction other traders are moving. Used correctly, this may help you capitalise on trends and boost your salary.
  • Education – The broker offers a vast range of free educational resources. This includes training modules, downloadable files, video commentary and more. All of which can help you with everything from basic definitions to implementing complex strategies.
  • Automated trading – The MT4 platform allows for APIs and extensions so you can enlist the services of trading robots and EAs.
  • Award Winning – ETX have picked up 4 awards already in 2020, the most recent being Best Online Trading Platform at the ‘Shares’ magazine awards.

Regulation & License

As forex and cfd broker reviews show, finding a trustworthy exchange is becoming increasingly important. This is a result of a growing number of scams and fraudulent brokers. Fortunately, a quick company check shows ETX Capital has regulatory oversight from the FCA, with Financial Services register number 124721.

Because they are regulated, compliance with a number of measures to protect consumers have to be met. This should put intraday traders at ease that ETX Capital is a legitimate broker, concerned about customers as well as their dividends.

Benefits

ETX Capital stands out in several areas:

  • No dealing desk – ETX Capital is a no dealing desk broker. As a result, you may benefit from straightforward and direct trade access, plus low costs.
  • Rebates – FX traders may be eligible for a cash back rebate on every trade they make. In addition, user reviews report relatively low problems with slippage.
  • Demo account – Prospective forex, CFD and spread betting users get access to a demo account. This is a great tool for building confidence and test driving ETX Capital’s software.
  • Trading tools – Customer reviews praise the range of tools on offer from the industry leading platforms. You get advanced charts, one-click trading, plus a range of technical indicators.
  • Market choice – There is no shortage of products and instruments to choose from. As a result, the broker is a sensible choice for both beginners and veterans.
  • Competitive spreads – Take ETX Capital vs IG Index, NinjaTrader or Plus500 and you realise the former promises attractive prices for active traders.
  • Education – There is an array of free educational material available to traders, including seminars, tutorial videos, user guides and manuals. These resources can prove particularly useful for novice traders.
  • International accessibility – Broker reviews are quick to point out customers from all over the world can trade with ETX Capital. That includes users from Australia, Ireland, Germany, Spain, India, and Indonesia. However, traders from the USA are not accepted.
  • Pro Clients – Professional Client Service. Offering higher leverage, more control over closed trades and more trading options.

Drawbacks

Despite notable advantages, customer reviews also underline several downsides to the ETX Capital offering:

  • Limited account options – There have been some complaints about the limited account options. Just one standard account means there are no financial incentives and benefits for traders with significant capital.
    Complex navigation – The website can be unnecessarily challenging to navigate, especially when compared with some competitors. This can all detract from the overall user experience.
  • Negative balance protection – There are other brokers who do more in terms of negative balance protection for customers. It would be reassuring to see the CEO do more to protect users in this way.
  • No live chat – Whilst most competitors offer live chat support, ETX Capital offers only telephone and email support.
  • No localised telephone support – ETX Capital does not have localised telephone support numbers for international clients. As a result, traders from Dublin will be contacting the same number as those from Dubai.

ETX Capital Trading Hours

On the whole, ETX Capital opening hours are around the industry norm. For example, the TraderPro platform is open for forex trading between 22:00 GMT Sunday through until 21:55 GMT Friday.

However, specific product trading times can vary in response to changes in liquidity. In addition, Christmas trading hours and other holidays will affect opening hours. See the official website for upcoming holiday hours.

Contact & Customer Support

Customer reviews of ETX Capital were mixed in terms of the customer support on offer. On the positive side, you have access to email and telephone support. See the Contact Us section on the website for the relevant telephone contact number and email address.

The ETX Capital customer service is provided in a long list of languages, including English and South African

User reviews show they can help you with everything from binary login details and forgotten passwords to pip calculators and guidance when the website is down.

You can also head to their Support and FAQ section. Here you will find answers and discussions around most common problems.

On the downside, support is not available 24/7, like some competitors, but instead runs from 07:30 to 21:00 GMT Monday to Friday. In addition, there is no live chat support, despite some competitors now offering live video chat services.

Overall then, there are several customer services open to users. However, beginners who want a hands-on live chat or video support may want to look at alternatives.

Safety & Security

ETX Capital expressly state how serious they take personal security. In fact, they have a Security Officer to ensure privacy policies and legislation are met. Furthermore, the broker utilises advanced encryption technologies and firewalls. On top of that, client funds are kept segregated in tier-1 banks.

ETX Capital Verdict

So are ETX Capital any good? Well, forex, CFD, spread betting and binary options reviews suggest yes. With extensive experience, powerful trading tools and an unlimited demo account, ETX Capital makes for a worthy broker contender. In particular, if you’re looking for reliability and integrity, a long list of awards helps demonstrate ETX Capital may be the right choice.

For additional guidance and other options, see our brokers list.

Accepted Countries

ETX Capital only accepts traders from United Kingdom.

ETX Capital Review

Review

ETX Capital is the broker name of Monecor (London) LTD which was established in 1965 and has grown ever since then. ETX Capital was launched in 2002 as a retail trading operation under the name TradIndex and then re-branded as ETX Capital. This was done in order to reflect the services offered and ETX is an acronym for electronic trading (E), telephone trading (T) and execution (X). A well-licensed and regulated online broker, ETX’s 55,000+ traders are treated to the company’s in-house developed proprietary trading platform, ETX TraderPro, and access to over 5,000 assets across six markets.

ETX’s instant execution model suggests an NDD operation. Spreads are tight and ETX Capital is transparent about all trading costs involved. Leverage is tiered and client funds are segregated. One thing that sets ETX Capital apart is that its parent company, Monecor (London) LTD, is listed on the London Stock Exchange (LSE). The proprietary trading platform won multiple awards for trading platform technology and education in both 2020 and 2020, though as a general rule, we prefer to test each broker ourselves rather than relying on ‘industry awards’ that may not be entirely unbiased .

Regulation and Security

Monecor (London) LTD, the owner and operator of ETX Capital, is registered in the UK under company number 00851820. During the course of this ETX Capital review we discovered that the company was incorporated on June 16, 1965, making it one of the oldest Forex brokerages in existence, and placing its birth as a company decades before the birth of the internet and online Forex trading. It is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 124721. Clients funds remain segregated as mandated by the regulator and are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 in the unlikely case of financial default.

Monecor (Europe) LTD (ex Minden Investments and Insurance Advisers and Sub Agents LTD), an operating subsidiary of Monecor (London) LTD, was registered in Cyprus on September 13, 2002 under registration number C114460. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 096/08. As mandated by its regulator, funds remain segregated and protected by the Investor Compensation Fund (CIF). Since Cyprus is an EU member, cross-border regulation across all member states applies and the firm is compliant with the MiFID II regulatory framework as well as the 4 th EU Anti-Money Laundering Directive.

More detailed information is provided on their website. Transparency at ETX Capital is respectable and the company is in full compliance with all regulations; traders can rest assured that their capital is well protected.

Monecor (London) LTD Regulation

Monecor (Europe) LTD Regulation

ETX Capital earns the majority of its revenues from spreads on currency pairs and commissions charged on CFDs. Spreads on currency pairs in the ETX TraderPro account start as low as 0.6 pips with an average spread of 0.81 pips in the EUR/USD. Traders who prefer to trade using the MT4 trading platform, will get EUR/USD spreads as low as 0.8 pips with an average spread of 1.01. CFD commissions for share trading in the ETX TraderPro account as well as the MT4 account are as low as 0.1%. ETX Capital provides a detailed list of all trading costs for both trading platforms on their website.

Swap rates on overnight positions also apply and ETX Capital charges the inter-bank market rate plus 1.35% annualized. Traders will get all the information inside the ETX TraderPro account from the deal ticket.

What Can I Trade

ETX Capital traders have access to the following six markets: forex, indices, cryptocurrencies, shares, commodities and bonds & interest rates. Over 5,000 assets are available, and the wide selection allows traders to operate a well-diversified cross-asset portfolio. Regardless if a new trader seeks to establish a portfolio or a professional trader diversifies holdings, ETX Capital offers a solid choice in each circumstance. This broker states that not all assets are available in the trading platform and that if traders wish to trade an asset not listed, to contact ETX Capital and arrange the trade. This allowance, however, applies to professional traders only.

Account Types

ETX Capital offers CFD trading account to all traders. There are no different account types, and traders at all levels and all deposit amounts are treated equally. This was an interesting finding during our ETX Capital review as tiered services have become quite popular recently among other Forex brokers who often offer better services for higher deposits. Leverage offered depends on the asset traded while larger position sizes will result in lower leverage offered.

Traders may qualify as professional traders which will result in less protection than retail traders, but also at better leverage. This is the only way in which ETX Capital really differentiates traders at different levels. Traders can apply for an upgrade to professional status, but need to have at least €500,000 of liquid assets, one year of experience in financial markets and placed at least ten trades of significant size in four consecutive quarters.

CFD accounts are the only offered account type by ETX Capital.

An upgrade to professional client status is available on request.

Trading Platforms

ETX Capital offers its proprietary trading platform ETX TraderPro; it is hardly surprising that the broker recommends this platform for all traders. The trading platform seems to offer a superior trading environment as compared to the MT4/MT5 or cTrader platforms offered by most brokers. ETX TraderPro can be fully customized to suit each trader’s preferences, over 60 technical indicators are available, plenty of drawing tools for analytical purposes and chart trading is available.

Risk management tools have also been incorporated which allows traders to effectively manage the amount of risk they wish to take. Interactive charts, watchlists and trade alerts round up an excellent trading platform, well designed and user-friendly. A web version as well as a mobile version are available and ETX TraderPro will serve as the main gateway to financial markets for most clients.

Traders who have existing trading solutions build on the MT4 infrastructure are also catered to as ETX Capital offers the MT4 trading platform for everyone who requires it. Trading conditions are slightly better in ETX TraderPro, but it lacks automated trading features where MT4 comes in. Millions have been invested in creating autonomous trading applications for MT4, which remains the most popular trading platform, and new ones are being released; ETX Capital offers the desktop as well as mobile version.

It is great that ETX Capital offers MT4 despite having developed its own trading platform, given the tens of millions of trader and companies who rely on the MT4 trading environment and built their portfolios and business around its infrastructure. This shows that ETX Capital does care about existing traders who may wish to switch to them in order to access a much better trading environment while maintaining their trusted trading set-up.

ETX TraderPro

ETX MT4

Unique Features

The unique feature which stands out the most about ETX Capital is its ETX TraderPro platform; this sets it apart from most of its competitors and allows this brokerage to compete in the top tier of today’s ultra-competitive market sector. Another important fact to point out is that this company has been operating in the financial sector since 1965 which sets it apart from most, if not all, major players in the online brokerage space. Monecor (London) LTD, the owner and operator of ETX Capital, has been around before the rise of the internet, has bridged the period from analog to digital and then created a state-of-the-art trading platform. The experience of the team behind ETX Capital is without a doubt another unique feature.

Traders who prefer to manage their trading accounts on the MT4 platform will have access to a VPS which will allow them to run their autonomous trading solutions 24/7. No additional costs have been mentioned for this service and if this is indeed the case, it represents another great service offered by ETX Capital which sets it apart from most other online brokers.

Research and Education

ETX Capital offers its own research and analysis to clients and features an educational section filled with content which represents a great introduction to trading. The research section provides a solid service, but ETX Capital has truly excelled in its educational department where the quality of it shines. Overall, both sections supplement the excellent trading environment created by this broker.

Research

Research and analysis are provided throughout the trading week and covers the following categories: Commodities, Cryptocurrencies, Forex, General, Indices, Market Event and Shares. The content is written well, plenty of in-depth analysis is provided and the presentation is professional. Many traders will find great information throughout this section, regardless if they are seeking new trading idea or are simply taking a break from active trading and reading up on important market events and developments.

It is clear that ETX Capital takes their market research seriously as evident in the content provided; this further sets this broker apart from many others in the online sector who provide research for the sake of marketing purposes only. This broker delivers a rock-solid service, driven by research and analytics and executes it well.

Education

This is another area where ETX Capital shines, as the educational section is a gold mine of information for new traders. The educational section is divided into Webinars, eBooks, Platform Guides and Courses. The amount of Webinars hosted several times per week, is impressive and some are two-hour specials; at the time of this review there are 17 scheduled webinars for the month of this ETX Capital review alone. Five eBooks are available for download, eight platform guides in the form of videos provided and eight comprehensive Forex courses have been created by ETX Capital. A glossary section is also available on the website.

New traders are highly recommended to take their time and master the Forex courses while the platform guides will introduce traders to the ETX TraderPro platform which will form the center piece to most of its clients. This is an excellent service provided by ETX Capital and serves as an example of a well-designed introduction to trading for new traders.

Traders can download five eBooks and it appears that more will follow.

Eight platform guides will decrease the learning curve when switching to ETX TraderPro.

Customer Support

Customer support is available Monday through Friday between 7:30 am and 9:00 pm and clients can either call or send an e-mail. Live chat or a call-back feature is not available, but most traders will never require customer support and those who do are adequately served. The lack of an FAQ section is unfortunate, but most required information is published on the website.

Bonuses and Promotions

At the time of this ETX Capital review, no bonuses or promotions were offered by the brokerage.

Opening an Account

The opening account procedure is the same as with any well-regulated broker today, through an online application form which is followed by the submission of ID and proof of residence documents in order to satisfy AML/KYC requirements. ETX Capital provides a clean and simple one-page registration form which will give traders access to their back office from where further documents can be uploaded in order to verify account ownership.

Deposits and Withdrawals

ETX Capital offers the following deposit methods: Bank Transfer, Visa Debit/Credit Card, MasterCard Debit/Credit Card, Skrill, Neteller, Sofort, GiroPay and China Union Pay. ETX Capital doesn’t charge for deposits, which is standard industry practice, but withdrawals below £100 or currency equivalent are charged £10. Deposits and withdrawals need to be conducted from an account matching the ETX Capital account holder. Third-party charges from banks or payment processors may apply.

All withdrawal request sent before 2:00 p.m. will be processed the same day; wire transfers as well as card transfers can take anywhere from 24 hours to seven business day. This depends on the location of the client. Deposits are credited instantly or within two hours in the case of bank wires.

An account inactivity fee in the amount of £25 or currency equivalent applies to all account which showed no trading activity for six months; should an account be reactivated, ETX Capital will reimburse the last three monthly inactivity charges.

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